Members of the US Home of Representatives have chosen Mike Johnson to be the physique’s subsequent speaker — the second in line to the U.S. presidency and a really highly effective determine in Congress.
In an Oct. 25 vote, all 220 Republicans current within the Home voted for Johnson, whereas 209 Democrats forged ballots for Consultant Hakeem Jeffries. The vote marked the primary time in additional than three weeks that the federal government physique had clearly outlined management. Consultant Patrick McHenry had been appearing as non permanent speaker since Oct. 3 following a balloting out former speaker Kevin McCarthy.
Not like different candidates thought-about for speaker, Consultant Johnson’s views on crypto had been largely unknown. Many within the area had been hopeful that Consultant Tom Emmer — a neighborhood advocate for digital belongings in Congress — would win the gavel. Nonetheless, his marketing campaign lasted only some hours following an announcement from former U.S. President Donald Trump urging far-right Republicans to not help him.
In accordance with @coinbase, the brand new candidate for Speaker of the Home @RepMikeJohnson’s sentiment in direction of crypto is “Unclear” as a result of he hasn’t but made any statements about it. pic.twitter.com/5CEKjNkctr
— yuga.eth (@yugacohler) October 25, 2023
Associated: US Congress stays legislatively paralyzed on crypto payments with no Home speaker
Whereas McHenry was probably preoccupied with making ready for the Home vote, Monetary Providers Committee vice chair French Hill led a subcommittee listening to on ‘Modernizing Monetary Providers By way of Innovation and Competitors.’ The listening to targeted on discussions round crypto-related laws, together with the Monetary Providers Innovation Act and Inspecting Client Selection in Digital Funds Act.
With the swearing-in of Speaker Johnson, the Home of Representatives can as soon as once more convey laws to the ground for votes. Lawmakers beforehand handed payments out of committee, together with the Monetary Innovation and Know-how for the twenty first Century Act, the Blockchain Regulatory Certainty Act, the Readability for Cost Stablecoins Act and the Preserve Your Cash Act. Nonetheless, the Home could must transfer on a brand new spending invoice earlier than Nov. 17 to deal with a possible authorities shutdown.
Journal: US gov’t tousled my $250K Bitcoin worth prediction: Tim Draper, Corridor of Flame
